automatic savings
Set-and-forget deposits
Automatic savings is money transferred to a savings account on a fixed schedule without requiring action each time.
Most commonly, a portion of a paycheck goes directly into savings before reaching a checking account: I set up automatic savings of $200 per month.
The approach removes willpower from the equation, making saving the default rather than a conscious decision.
- autopayRecurring automatic payment
- direct depositFunds sent to account automatically
- rainy dayPrecipitation-filled twenty-four hours
- rainy day fundMoney saved for emergencies
- piggy bankCoin-slot savings container
nest egg · recurring · transfer · paycheck · set-and-forget · compound interest · 401k · money market · emergency fund · financial cushion · round-up · spare change · sweep · budget · discipline · effortless · scheduled · deduction
- savingspiggy bank, emergency fund, rainy day fund, joint account, bank deposit
- automated paymentsautopay, bill pay, direct deposit, standing order, payroll deposit
- money goalssave money, financial goals, debt free, emergency fund, retirement fund
- bankingbank, banks, ATM, ATMs, account
- shopping savingsdiscounts, coupons, rebates, rewards, points
automatic savingscompulsive buying
Uncontrollable urge to purchase
lifestyle creep · living beyond one's means · retail therapy
automatic savingsliving paycheck to paycheck
Earning only enough for immediate expenses
automatic, savings, auto, automate, automated, automates, automating, automation, automaton